MGCC helped 64 local firms with $23m in loans during fiscal 2013

The Massachusetts Growth Capital Corp. said it approved nearly $23.4 million in closed and committed loan assistance to help 64 Bay State companies rebound economically in fiscal 2013, a 68 percent increase from the previous year.

The Massachusetts Growth Capital Corp. which was created by a state law to help small businesses create jobs, added that 17 of those companies are owned by women.

One of those companies was Custom Learning Designs Inc. of Belmont, which develops sales training materials for the life sciences industry. MGCC said it provided working capital to help company owner and CEO Donna Kilcoyne restructure her business and invest in mobile technology platforms to better meet the needs of her company’s changing customer base.

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“If you go to other financial lenders, they all want a piece of your business.  MGCC doesn’t do that,” Kilcoyne said in a statement.  “They recognized I was a healthy employer in Massachusetts of 75 state residents, so they wanted to help see me succeed.”